Starbucks will replace chief executive Laxman Narasimhan with current Chipotle CEO Brian Niccol, as activist investor Elliott Management pushes for transformation at the coffee giant. Suggested Reading. Narasimhan will step down effective immediately and Starbucks’ chief financial officer, Rachel Ruggeri, will take over until Niccol assumes the role on Sept....

Starbucks just ousted its CEO and replaced him with Chipotle's chief

The Motley Fool

Is this the company's first step to restoring lost luster to the brand?

Starbucks Shockingly Moved on From Its New CEO. You'll Never Believe Who His Replacement Is.

Starbucks, Coca-Cola Seek Trademark Renewal in Russia(Kevin Dietsch/Getty Images) (Credit: Getty Image) Starbucks' sales tumbled globally as more US and international consumers rejected its high-priced coffees. Starbucks sales dropped by 3% globally at all stores open for at least a year, according to its recent financial release. In North America...

Starbucks Sees Declining Sales as More Consumers Step Away From High-Priced Coffee

Kiplinger

Chipotle stock is plunging Tuesday after the burrito chain said its CEO Brian Niccol is leaving to take the top spot at Starbucks. Here's what you need to know.

Chipotle Stock Sinks As CEO Heads to Starbucks

The Independent

 Starbucks shares soared on Tuesday after the coffee giant announced it had appointed Chipotle’s CEO to replace its own chief executive after less than two years on the job.Chipotle CEO Brian Niccol will take over from Laxman Narasimhan, who the company brought in in March 2023 to lead a “reinvention” as it struggled against competition and weakening demand in the US and China.However, Starbucks stock kept dropping and the company lost nearly one-quarter of its value, per Reuters.When executives announced the shakeup on Tuesday, shares rose 24 percent ending the day at $95.90. After Niccol started at Chipotle in...

Starbucks shares jump 24% after coffee giant replaces CEO with Chipotle boss

Consumers are just not buzzing about energy drinks at the moment. Popular energy drink maker Monster Beverage missed sales expectations for the second quarter. On Wednesday, Monster reported net sales of $1.90 billion, lower than the expected $2.01 billion analysts predicted. For the three months that ended on June 30, the company reported a profit of 41 cents per share versus a 45 cents per share projection. However, recent net sales beat revenues of $1.85 billion for the same time period last year.

Monster Beverage’s Sales Fall Short of Expectations, Blames Convenience Stores

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NewsNinja

A lady is cautioning others about purchasing budget earrings from Amazon, Shein, and H&M, after she experienced keloid formations on her earlobes due to wearing them. On a TikTok post that has garnered more than 334,000 likes, Sailor Rozema (@sailor.rozema), a content creator, shares a warning with her community of "dangly earring girls": the inexpensive jewelry found in fast fashion can have negative impacts on your well-being.

‘I’ll never be wearing earrings for the rest of my life’: Customer warns against buying from Shein

PYMNTS

As retail giants Amazon and Walmart compete to be consumers’ go-to for more of their day-to-day needs, the two companies are looking to delivery times as a key factor influencing shopper loyalty. Amazon, for its part, shared on its Q2 earnings call last week how boosting delivery speeds is...

Who’s Faster? Amazon and Walmart Race to Meet Demand for Instant Delivery

Here are 11 updates on UnitedHealth Group and its subsidiaries that Becker's has reported since July 22:. 1. UnitedHealth Group recorded the largest profit among major payers in the second quarter of 2024. 2. The consumerization of healthcare is accelerating, and the nation's largest health insurer is keeping pace. In...

UnitedHealth Group in the headline: 11 updates

Starbucks named Brian Niccol chairman and CEO on Tuesday amid mounting sales concern and growing interest from activist investors. Laxman Narasimhan, who has only been in the job for 16 months, is stepping down from his role effective immediately. Rachel Ruggeri, Starbucks’ chief financial officer, will step in as interim chief executive for the next month.

Brian Niccol named CEO of Starbucks

So far this year, PYMNTS Intelligence data has illuminated a wide range of shopper behaviors, highlighting how omnichannel engagement is changing over time and how economic pressures are impacting spending habits. Here are five key takeaways about shopper behavior from 2024 so far. The Rise of the Click-and-Mortar™ Shopper.

How Consumers Shop: Five Insights From This Year’s PYMNTS Intelligence Reports

North Carolina State

Town Talks

Biscuitville, a North Carolina-based chain, has been named the No. 1 fast-food breakfast spot in the nation by USA Today's 10Best. This accolade comes after a month-long voting period where people across the country chose their favorite breakfast destinations.

North Carolina-based chain ranks No. 1 in the nation for fast-food breakfast. Here’s why

Starbucks on Tuesday tapped Chipotle CEO Brian Niccol to lead the company as the world's largest coffeehouse chain seeks to regain its footing. During Niccol's tenure at Chipotle, the restaurant steadily expanded its footprint and grew sales at a rate well ahead of most competitors. At Starbucks, Niccols will have...

China Competition Is Just One Challenge Brian Niccol Will Face as Starbucks CEO

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here. Wall Street soars. Wall Street rose after producer prices came in...

CNBC Daily Open: Wall Street surges; Starbucks ousts CEO

As consumers bear the burden of inflation, PYMNTS Intelligence reveals that nearly all individuals living paycheck to paycheck are making trade-offs when it comes to restaurant spending. The latest installment of PYMNTS Intelligence’s series “New Reality Check: The Paycheck-to-Paycheck Report,” the “How Consumer Perception of Inflation Forces Many to Trade...

98% of Financially Strained Restaurant Customers Are Cutting Back

Nvidia is continuing to rack up wins in the public sector. A recent report from UBS suggests Nvidia stock could post big gains over the next year. UBS thinks that concerns about delays for Nvidia's first Blackwell processors may be overblown. Is Nvidia stock still a great buy? Recent coverage...

Here's Why Nvidia Stock Jumped Today

Activist Elliott Management and Starbucks' board of directors are in settlement talks, according to people familiar with the matter. Elliott and Starbucks' directors met last week to discuss the activist's settlement offer. ' board of directors are in settlement talks, according to people familiar with the matter. Elliott and Starbucks'...

Starbucks and activist Elliott met last week to discuss settlement, sources say

Business Insider

Starbucks CEO Laxman Narasimhan is out after 17 months in the role. His leadership was hit by falling sales, union clashes, and activist investors.

What went disastrously wrong in Laxman Narasimhan's 17 months as CEO of Starbucks

The AI chipmaker is scheduled to report results later this month. Can the stock continue its relentless climb?

Should You Buy Nvidia Stock Before August 28? Here's What the Evidence Suggests.

New York Post

Starbucks said Tuesday it is replacing embattled CEO Laxman Narasimhan with Chipotle boss Brian Niccol — a surprise move that comes after months of slowing sales and growing heat from activist hedge funds. 

The company said Niccol — who has been widely praised for a turnaround at Chipotle that has boosted the burrito chain’s stock by more than 50% over the past year — will assume the executive position on Sept. 9.

Narasimhan will be stepping down from his CEO and board director positions immediately. Starbucks chief financial officer Rachel Ruggeri will serve as interim CEO until Niccol starts.

Starbucks shares jumped...

Starbucks hires Chipotle boss Brian Niccol as next CEO as pressure from activist investors grows

NewsBreak

Starbucks Appoints Chipotle Head Brian Niccol as CEO

Starbucks said Tuesday (Aug. 13) that it has appointed Chipotle Chairman and CEO Brian Niccol as CEO, effective Sept. 9, succeeding Laxman Narasimhan, who stepped down...

Starbucks Appoints Chipotle Head Brian Niccol as CEO

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